Interpublic to cut up to 2,000 jobs

US marketing services company Interpublic Group is reportedly axing up to 2,000 staff, just one day after rival Omnicom announced it was cutting 5% of its workforce.

Interpublic's network of advertising agencies are considering targeted cuts in the face of the economic downturn, which could result in up to 5% of the group's total worldwide headcount of 60,000 being laid off, according to Reuters, which quoted sources close to the company.

This would back up comments made by the Interpublic chief executive, Michael Roth, in October this year. Roth told investors he would manage the business "conservatively" in the face of the downturn, remaining "extremely focused" on controlling costs and managing margins.

Interpublic is one of the world's largest advertising companies, owning agencies including McCann Erickson, Lowe and DraftFCB.

Omnicom's job cuts began last week and are due to be finalised by today. Reports have suggested that between 4% and 5% of Omnicom's staff will be axed – between 2,800 and 3,500 out of a worldwide headcount of 70,000.

The New York-based group owns creative ad agency networks such as BBDO, DDB and TBWA and media buying agency networks including PHD and OMD. Omnicom also owns PR operations including Fleishman-Hillard, Ketchum and Porter Novelli.

Omnicom has not confirmed where the cuts will fall across its global network of agencies.

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